The U.S. Department of the Treasury today announced its latest wave of funding awards through the Section 1602 Tax Credit Exchange Program, provided by the American Recovery and Reinvestment Act of 2009. Over $309 million in funding was awarded in seven states to help finance the development of affordable housing and spur community development. This is the sixth round of funding awarded through the program, which will provide a total of over $3 billion in Recovery Act funds to jumpstart the renovation and/or creation of affordable housing for low-income families across the country. Today’s awards include:
- $34 million in Arizona
- $16 million in Connecticut
- $95 million for North Carolina
- $3.6 million for North Dakota
- $41 million in Pennsylvania
- $118 million for South Carolin
- $1.4 million in Vermont
